But there were some hiccups in the overall trend. For starters, refi loans originated in the retail channel actually had slightly lower average credit scores than correspondent- and broker-originated refinances…
During a congressional oversight hearing, House Financial Services Committee members grilled CFPB Director Kathy Kraninger on the bureau’s interpretation of the abusiveness standard, plans to reform the qualified-mortgage rule and the controversial RESPA bulletin.
The bureau has released three surveys as part of its review of the integrated mortgage disclosure rule. According to comments received so far, the industry seeks clarity in the rule’s timing requirements.
The CFPB late January sued Citizens Bank for alleged credit card errors. The lawsuit raises questions about consistency in the bureau’s enforcement strategy under its current leadership.
Before a district court in New York, the CFPB argued that its funding source, which falls outside the appropriations process, is constitutional. The case stems from a dispute arising out of a civil investigative demand.
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